Pretty much all Video cards that are 8X AGP are backward compatible with 4X and 2X AGP. I know for sure that this is true with the Radeon 9700 series. If you are still unsure, check the specs for the individual vid card that you want to buy.
I'm actually using a Radeon 9700 Pro right now. It is rated to run up to 8X AGP, but I am using it in a motherboard that only supports 4X AGP. It states right on the package that it is 8X, 4X, 2X AGP compatible.
Here are the voltage levels that each AGP standard runs at:
AGP 2X: 3.3 Volts
AGP 4X: 1.5 Volts
AGP 8X: 0.8 Volts
A while back when AGP 4X just came out, there were some reports of video cards that were designed for 4X AGP only. When some poor unsuspecting soul put one of these video cards in a motherboard that only supported 2X AGP..........POOF!!! If you look at the voltages above, you can see why.
However, I don't think this is a problem with the new crop of video cards out there, as they should be compatible with all current AGP standards.